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PROPERTY INFO
FACTS
- Single Family
- Built In 1981
- Price/Sqft : $124.26
- 4 Days on Market
- MLS # : 21118198
- Updated Date : 01/30/2021 at 11:55
CONSTRUCTION
- Beds : 3
- Floor Size : 1,368 sqft
- Baths : 2 full
Listing Agent
Mark Dimas Properties
Listing Agent's Description
Modest single-story home featuring 3 bedrooms, 2 baths, a 2-car attached garage, and an open floor plan! There's a vaulted ceiling in the living room with a brick fireplace, and the kitchen includes a newer disposal, updated dishwasher, and wood laminate counter-tops and back-splash. The master bedroom is separate from the secondary bedrooms for added privacy and also has a vaulted ceiling while the backyard has plenty of green space and a patio with a pergola. This home is located with easy access to retail and Beltway 8!
SEE MORE
- Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
- Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)
- Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)
- Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Fairmont Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Fairmont Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,590 |
| EXPENSES | Loan Payment | -$590 |
| Property Tax | -$412 | |
| Property Insurance | -$120 | |
| HOA | -$6 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$362
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.
$169,990
PROJECTED PRICE
$1,590
PROJECTED RENT
0.94%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 7.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$50,797
LOAN DETAILS
$590
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $42,498 |
| Loan Amount | $127,493 |
11.58
YEARS SAVED
$30,811
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,590
LIST RENT -
$1.16
LIST RENT PER SQFT
-
$1,607
COMP ESTIMATED VALUE -
$1.17
COMP AVG. RENT PER SQFT
Comps Range
-
4426 Haiti Lane Pasadena, TX 2
- 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1981
- Rent
- Rent Per SQFT
- $1,590
- $1.16
-
4614 Kenya Lane Pasadena, TX 1
- 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 1983
LEASED 12/07/20- Rent
- Rent Per SQFT
- $1,490
- $1.17
-
4602 Jamaica Lane Pasadena, TX 3
- 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1983
LEASED 12/09/20- Rent
- Rent Per SQFT
- $1,625
- $1.21
-
4215 Glen Avon Drive Pasadena, TX 4
- 3 beds 3 baths ∙ 1,458 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,458 Sqft ∙ Built 1984
LEASED 05/29/20- Rent
- Rent Per SQFT
- $1,700
- $1.17
-
4727 Cornoustie Street Pasadena, TX 5
- 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1983
LEASED 09/01/20- Rent
- Rent Per SQFT
- $1,799
- $1.15
PROPERTY LISTING DETAILS
1.281.861.6199
Mark Dimas Properties
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 21118198
Last Updated: 01/30/2021
